Fitbit Investor Attorneys Vie for Lead Counsel Spot

Jan. 2, 2019, 7:28 PM

Five firms want to be lead counsel in an investor class action alleging Fitbit Inc. misled them about how well the company was doing financially.

The firms asked the U.S. District Court for the Northern District of California to appoint their clients as lead plaintiff and themselves lead counsel in motions filed Dec. 31.

The suit alleges Fitbit failed to disclose that it was struggling to differentiate itself from Apple Inc. and other competitors, and that both demand for its products, and sales, were falling.

The firms are The Rosen Law Firm P.A., Robbins Geller Rudman & Dowd LLP, Glancy Prongay & Murray LLP, Weiss Law LLP, and Pomerantz LLP

Fenwick and West LLP represents Fitbit.

The case is Lopes v. Fitbit, Inc., N.D. Cal., No. 18-6665, motions for appointment to lead counsel 12/31/18.

To contact the reporter on this story: Perry Cooper in Washington at pcooper@bloomberglaw.com

To contact the editors responsible for this story: Jo-el J. Meyer at jmeyer@bloomberglaw.com; Steven Patrick at spatrick@bloomberglaw.com

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